DACHA | About DACHA | Co-op Ownership | DACHA Q&A
Application Deadline Selection Criteria and Process What is my down payment? Contact Information Application (.pdf)
Application Deadline
To qualify for a DACHA home, you must fill out and return your application.
If you are not interested in a current offering but wish to be included in our applicant pool, please return your application as soon as possible.
DACHA’s next four homes will be built in South Davis at Albany and Drummond and will be available for occupancy in 2006.
A further five homes will be available for occupancy in South Davis in 2006.
Selection Criteria and Process
A preference has been established for applicants who currently work
in Davis, or at the UC Davis campus in Davis. In order to be eligible for this
preference, applicants must currently be and consistently have been employed for at least one year in Davis or on the UC Davis campus in Davis. Additional specific resident selection criteria will be provided during the application screeningprocess.
What is my share/down payment?
The share/down payment for the currently offered DACHA homes is stated below. The applicants selected will need to invest their complete share prior to completing the move-in process. According to the size of the DACHA home, a down payment between $20,000 - $24,000 will be required.
Applicants having a full share down payment are served first.
Many households do not have the full share required and we work hard to find funds from other sources that go towards the full share to allow other applicants to become members. If your family cannot put down the total amount, please let us know how much you can invest.
Please fill in the status of your share information on the application. In addition to purchasing a share, each share owner is responsible for paying a portion of the shared expenses of the co-op, including its monthly loan payment, taxes, insurance, administrativeand accounting costs. These “carrying charges” are similar to the traditional costs of single family homeownership, except that they are shared by members of the cooperative and include the cost of operating the cooperative. However, owner members will still be responsible for paying their own utility bills and maintenance costs within the individual homes.
Members owners of a housing cooperative have the same tax advantages as other home owners. At the end of each year, DACHA calculates the specific mortgage interest and property taxes paid by each home and provides that number to each individual member household. The member household can then use those numbers for their home owner deductions on their taxes.
Thank you for your interest in this new cooperative community in Davis.
This information does not constitute an offer on the part of Neighborhood Partners LLC, Davis Area Cooperative Housing Association, or any other entity to sell real estate or any interest therein.
For
information on DACHA HOMES:
Madsen and Walton (attention Gail Madsen)
P O BOX 1533, Sacramento CA 95812
Tel 916-447-0886 Fax 916-447-0879